Factors affecting the working life lenght of older people in the European Union

Eva Grmanová () and Jozef Bartek ()
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Eva Grmanová: Alexander Dubček University of Trenčín, Slovakia
Jozef Bartek: Alexander Dubček University of Trenčín, Slovakia

Entrepreneurship and Sustainability Issues, 2022, vol. 10, issue 1, 64-79

Abstract: Despite the fact that population ageing in the European Union is in full swing, and policy makers are pushing for exdenting of working lives, there is a group of older people, whose employment potential in labor market ends up dormant. The phenomenon of early retirement is worthy of a deeper research from the point of view of human resources management, as employers facing issues of digital economy often lose a skilled workforce and labor market is depleted of the potential of this group. The article is focused on the research of three factors in relation to the desire to retire early: "job satisfaction", "job physical demands" and "afraid health limits ability to work before regular retirement in job". The influence of selected factors on the desire of workers to retire early is specified through quantitative analysis of data from the SHARE - Survey of Health, Aging and Retirement in Europe. Chi-squared test of independence, Cramér`s V for dependence tightness and standardized (adjusted) Pearson residuals are used for analyzes. Results show the strongest intensity of dependence in relation to the desire to retire early with the job satisfaction factor. There is a weak dependence tightness in factors of the job physical demands and the individuals` health limits within professional performance. The analysis shows that it is very important that employers try to make their employees satisfied with job, because the consequences of such an effort are reflected in the employees` decision making whether to stay in job or to leave labor market through early retirement.

Keywords: early retirement; older people; questionnaires (search for similar items in EconPapers)
JEL-codes: J14 J26 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:ssi:jouesi:v:10:y:2022:i:1:p:64-79

DOI: 10.9770/jesi.2022.10.1(3)

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